Ethereum price spikes above the falling wedge pattern and takes a jab at $240 resistance. ETH/USD appears to be back in its bullish phase as indicators align in favor of more bullish action. Ethereum price is taking its bullish action a notch higher by not only jumping above the initial resistance at $230 but also advancing above $235. The gains are in tandem with Bitcoin’s correction above $9,000. Besides, the cryptocurrency market remains relatively bullish on Friday. ETH/USD is trading at $235 while fighting its way to break above the resistance at $240. The impact of overcoming the falling wedge pattern appears to be positively influencing the Ethereum. The 4-hour chart shows Ether trading under the 100 SMA while the 50 SMA sitting comfortably at $225, ready to stop losses in the event a reversal breaks support at $230. Most of the technical indicators point towards possible farther upward advancement with the medium-term target at $250. The RSI, for instance, is almost entering the overbought region while the MACD just crossed into the positive region. Since the dip to the primary support at $210, the momentum indicator continues to post a higher high pattern, emphasizing the buyers are in the driver seat. Ethereum confluence resistance and support levels Support one: $231 – Fibonacci 23.6% one-day and the SMA ten 15-minutes. Support two: $229 – Previous low 1-hour and 61.8% one-day. Resistance one: $239 – Pivot Point one-day resistance two. Resistance two: $249 – Fibonacci 38.2% one-month. ETH/USD 4-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Copper Futures: Downside seen limited FX Street 3 years Ethereum price spikes above the falling wedge pattern and takes a jab at $240 resistance. ETH/USD appears to be back in its bullish phase as indicators align in favor of more bullish action. Ethereum price is taking its bullish action a notch higher by not only jumping above the initial resistance at $230 but also advancing above $235. The gains are in tandem with Bitcoin’s correction above $9,000. Besides, the cryptocurrency market remains relatively bullish on Friday. ETH/USD is trading at $235 while fighting its way to break above the resistance at $240. The impact of overcoming the falling wedge… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.